BMO Launches 10 New ETFs

BMO Asset Management Inc. (TSE: BMO) launched 10 exchange-traded funds (ETFs) on Thursday.

TD Expands Suite of ESG ETFs

The launch includes four new ETF series listings, expanding existing fund options.

The new ETFS include an all-equity asset allocation fund, global climate-focused equities, and discount bond solutions.

Management Commentary

“With the effects of climate change more palpable than ever, we wanted to expand our ESG offerings for clients who want to invest in the transition to a greener and more sustainable future. Our new climate-focused ETF concentrates on the ‘E’ in ESG and provides investors a solution to closely align their investments and environmental values,” said Mark Raes, Head of Product (Canada), BMO Global Asset Management.

Wall Street’s Take

Last week, Barclays analyst John Aiken upgraded BMO to Buy from Hold and raised its price target to C$165 (from C$140). This implies 13.5% upside potential.

The rest of the Street is cautiously optimistic on BMO with a Moderate Buy analyst consensus rating based on seven Buys and three Holds.

The average Bank of Montreal price target of C$157.37 implies 8.3% upside potential to current levels.

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